- QNT Token price fails to breach the correction trendline and might soon hit the $52 mark.
- The coin price trades above the 50 EMA supported by the 200 EMA, indicating the presence of underlying bullish momentum
- The QNT/BTC pair trades at 0.002122 BTC with an intraday rise of 7.21%
QNT token rose more than 45% but failed to breach and close above the resistance trendline of the symmetrical triangle. The coin price made various bearish candles near the correction line, projecting the inevitable price fall within the triangle.
The coin price may find support from the 200 EMA and the support trendline of the triangle near the $52 level causing the price to resonate within the pattern.
Investors must stay cautiously away from entering early before the breakout, as the overall bearish market sentiments increase the volatility in altcoins.
Presently, the QNT token price is $71.64, with a 16% boom in intraday trading volume. Furthermore, the market cap of the coin has increased 8.17% in the past 24 hours.
Strongest Support Line Of QNT Token Resists The Market
QNT token price continues to move uptrend supported by a solid support trendline resisting to bend with the sloping market. The demand near the trendline has resulted in a 50% growth within two days.
A fallout of the support trendline could result in a big bearish move for QNT Token, resulting in a 30%-50% fall within days. However, the trendline is intact yet with no definite signs of bearishness.
QNT price is closing in on the 50 (red) supported by the200 (white) EMA implying the start of a short-term downtrend. Therefore, investors might find a beneficial entry point near the support trendline.
The RSI indicator (bullish) indicates a rise in bullish sentiments as the RSI line spikes up and heads towards the overbought zone. However, the line is still within the neutral area, projecting some possibility of reversal.
The Adx indicator projects a fall in trend momentum as the price starts to fall.
CONCLUSION- The strong solid support trendline is resisting the overall sentiment of the market, which might give a big move upon fall out. However, till then, investors may find entry opportunities near the trendline.
Support – $64, $52
Resistance – $78